“They do target low-income people in low-income neighbourhoods. … They understand who their target audience is – people who can’t manage to spend the high costs and interest that payday loan providers charge,” claims Mike Brown, whom deals with public policy at Momentum, which operates community de that is economic programs when you look at the town.
He states reduced oil prices are including urgency to your town’s efforts as “people have let go – many Canadians don’t have a crisis fund, so they really come across a issue of requiring credit straight away, and from their banking institutions, they’re more prone to go to a payday lender. when they can’t obtain it”